VST Tillers Tractors Limited (VST), a leading Indian manufacturer of farm equipment, announced its financial results for the quarter and nine months ended December 31, 2025, reporting healthy growth in revenues and profitability supported by improved operating performance. The Company reported a robust performance during the third quarter of FY26, with revenue from operations increasing to ₹314.3 crore from ₹219.1 crore in Q3 FY25, registering a year-on-year growth of 43.4%.
Operational EBITDA for the quarter rose to ₹40.7 crore compared to ₹19.6 crore in the corresponding period last year. EBITDA margins improved to 12.9% from 8.9%, after accounting for the ₹1.66 crore impact of the new labour code. Excluding this impact, EBITDA margins would have stood at 13.5%.
Net profit for the quarter increased sharply to ₹30.7 crore, as against ₹1.7 crore in Q3 FY25, with net profit margins expanding from 0.8% to 9.6%. For the nine-month period, revenue from operations grew to ₹911.9 crore, compared to ₹693.1 crore in the corresponding period of the previous year, reflecting a growth of 31.6%.
Operational EBITDA for the period stood at ₹119.1 crore, up from ₹70.7 crore in 9M FY25. EBITDA margins improved to 13.06% from 10.2%. Adjusted for the ₹1.66 crore impact of the new labour code, EBITDA margins would have been 13.20%. Net profit for the nine-month period rose to ₹100.7 crore from ₹69.5 crore in the previous year, with net profit margins improving from 5.8% to 10.6%.
Established in 1967 by the VST Group, VST Tillers Tractors Limited is one of India’s foremost farm equipment manufacturers with a legacy spanning over 55 years. The Company plays a key role in advancing farm mechanization and supporting Indian agriculture.
VST is the country’s largest manufacturer of tillers and 4WD compact tractors and is among the leading producers of tractors, engines, transmissions, power reapers, and precision components. The Company also has a strong export presence, supplying products to markets across Europe, Asia, and Africa.
